FIN.

Government updates Blocking Order regulations

The Extraterritorial US Legislation (Sanctions against Cuba, Iran and Libya) Protection of Trading Interests)(Amendment) Order 2018 will take effect on 1 February 2019. It updates a 1996 order to reflect updates to the EU Blocking Regulation – which makes it an offence for EU companies and individuals to comply with US sanctions imposed on Cuba, Iran and Libya to the extent those sanctions purport to have effect on persons outside the US. The Regulations make breach of certain provisions of the Blocking Regulation an offence subject to an unlimited fine.

Avatar

Emma Radmore